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Aug 25, 2009
08/09
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and so i think some focus is now going to shift to washington. what will washington do to make sure that we are turning that corner and not just stuck there for the time being. of. >> and suze, a lot of people think the economy can't move forward until home prices stabilize. but even if they stablize, you know, the damage is done. there are a lot of people that are under water with the mortgages they have right now. where do you go from there? >> we're not going to see a let up from foreclosures. that's the other side. the foreclosure problem is a problem of levels, not rate of growth and we're so far off our
and so i think some focus is now going to shift to washington. what will washington do to make sure that we are turning that corner and not just stuck there for the time being. of. >> and suze, a lot of people think the economy can't move forward until home prices stabilize. but even if they stablize, you know, the damage is done. there are a lot of people that are under water with the mortgages they have right now. where do you go from there? >> we're not going to see a let up from...
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Aug 28, 2009
08/09
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i think citizens and voters and taxpayers see washington as out of control. whatever paul krugman says or doesn't say doesn't matter. folks are smarter than we think. we have to do something about this and we have to have strict limitations, michael and jimmy, i will leave. there it i think krugman misses that whole point. our future is being jeopardize and compromised if we don't get some constitutional restraints involved. all right. thank you, gentlemen, i appreciate your discussion. folks, be sure to tune in to squawkbox here on cnbc starting at 6:00 on monday. steve leisman will have an interview with the new york fed president, william dudley. don't miss it. more allegations surfacing regarding charlie rangel's tax returns or lack thereof. we give you all the details. this is a nasty story. he is a friend. right now it is fish or cut bait. he must disclose and pay taxes or resign his post. keep it right here. all around the world, men with erectile dysfunction have asked their doctors about cialis. ask your doctor if a cialis option is right for you bec
i think citizens and voters and taxpayers see washington as out of control. whatever paul krugman says or doesn't say doesn't matter. folks are smarter than we think. we have to do something about this and we have to have strict limitations, michael and jimmy, i will leave. there it i think krugman misses that whole point. our future is being jeopardize and compromised if we don't get some constitutional restraints involved. all right. thank you, gentlemen, i appreciate your discussion. folks,...
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Aug 21, 2009
08/09
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obviously, we're dealing with some extraordinary events in washington. we're also preparing for the spinoff. and have been spending the last nine or ten months preparing to spin off our medical technologies business, which will launch as care fusion at the end of the month, and rebuilding and revitalizing our core business and our health services business, which is really a business built around cost effectiveness and health care. >> so much to talk about. the medical technology business is fascinating and has really gotten so much attention over the years. what does the spinoff do for you in terms of financials and in terms of sort of overall growth for cardinal health? >> well, it really gives us a chance to focus on our core business of servicing the health care system across the continuum of care. so the med tech business is a very exciting business, and we're excited for them as they launch their new business. but for our core business it's a chance to revitalize our effort. our business is really about creating a cost-effective system, allowing the
obviously, we're dealing with some extraordinary events in washington. we're also preparing for the spinoff. and have been spending the last nine or ten months preparing to spin off our medical technologies business, which will launch as care fusion at the end of the month, and rebuilding and revitalizing our core business and our health services business, which is really a business built around cost effectiveness and health care. >> so much to talk about. the medical technology business...
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Aug 26, 2009
08/09
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i'm hampton pearson in washington. moments ago the fdic approved new rules that will make it easier for private equity firms to buy failed banks. the key change -- lowering the tier 1 capital requirement from 15% to 10%. the standard for a well-capitalized bank is 5%. the fdic board says the policy change strikes a balance. the vote was 4-1. a controversial source of strength provision which would have put private equity investors on the hook for more capital if a bank failed, that provision was dropped. the fdic says these new guidelines will be reviewed every six months. maria? >> all right. that's an important development there. hampton, thanks very much. hampton pearson is in washington right,000. now a look at the other stories we're following on the "closing bell" taker tonight. discount retailer dollar tree's second quarter profit was up 51%. the company made $57 million, which beat wall street expectations, as bargain hunting consumers helped drive sales, which were up 12 1/2% to $1.25 billion. dollar tree shar
i'm hampton pearson in washington. moments ago the fdic approved new rules that will make it easier for private equity firms to buy failed banks. the key change -- lowering the tier 1 capital requirement from 15% to 10%. the standard for a well-capitalized bank is 5%. the fdic board says the policy change strikes a balance. the vote was 4-1. a controversial source of strength provision which would have put private equity investors on the hook for more capital if a bank failed, that provision...
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Aug 3, 2009
08/09
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the internals of the economy or all this going on in washington? >> going on in washington. it really is. you're going to have a wonderful bull market here. enjoy it, i think it's wonderful. >> a wonderful little bull market. he sounds like he's petting his cocker spaniel. >> jack agrees with me. >> i would say probably 40% of the 50% move we've enjoyed over the last several months is probably as art has said a rebound of the blood bath that we suffered in the fourth quarter. so i'll give him that. but that is, i still think we're now setting the seed for a prolonged bull market based on recovery. consider this -- >> can you take me into next spring and summer? >> i look out 12 to 18 months and i'm optimistic for that 12 to 18 months. >> how long is this little cocker spaniel bull market? >> i think coming to the beginning of 2011, you've got a crash. >> 2011, that's so far away. >> i can't look that far out. >> that's 18 months.s. >> where's the outlook of this? goldie locks is chasing the bear. did you see that art chasing art across the screen, jack ablin. give me an s&p
the internals of the economy or all this going on in washington? >> going on in washington. it really is. you're going to have a wonderful bull market here. enjoy it, i think it's wonderful. >> a wonderful little bull market. he sounds like he's petting his cocker spaniel. >> jack agrees with me. >> i would say probably 40% of the 50% move we've enjoyed over the last several months is probably as art has said a rebound of the blood bath that we suffered in the fourth...
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Aug 6, 2009
08/09
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will the policies out of washington be obstacles? are we seeing prosperity killers, tax hikes. >> protectionism? are we seeing the things dr. lafferty told us were protection killers and these are the head winds we will face over the next couple of months. >> the issue remain, my call for the new bull market and i was humbled abbey joseph cohen agreed with this. cyclicly we have seen a free market capitalist adjustment cost cutting by business, very important producing profits. first, the estimates look better and top line drives revenues sky high. it may not give me 8 or 7% economic rebound like in the reagan years in the 1980s but gives me 3 to 4% i think gets me to 1100 or 1150 on the s&p maybe 1200 pre-lehman. today, the s&p closed down slig slightly, to 1,000, what's your take on those issues. >> first, i agree, we will end the market higher than we are now, probably a good 10%. 1100 was my magic number, i will probably stick with that. you can't drive a car by looking in the rear view mirror. the market's telling us something.
will the policies out of washington be obstacles? are we seeing prosperity killers, tax hikes. >> protectionism? are we seeing the things dr. lafferty told us were protection killers and these are the head winds we will face over the next couple of months. >> the issue remain, my call for the new bull market and i was humbled abbey joseph cohen agreed with this. cyclicly we have seen a free market capitalist adjustment cost cutting by business, very important producing profits....
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Aug 3, 2009
08/09
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pullbacks and all. >> you say it's despite what's happening in washington, though. at what point does what's happening in washington start to catch up with the real economy? i mean they're talking about tax rates if health care goes through going to 57% in some states. >> i agree with all of that, trish, and it's a pleasure to hear you talk about it. but i want to focus business and free markets are more is -- durable and resilient than the detractors would have us believe and right now i've focussed on the recovery of business because everyone has written the consumer off and i'm saying it's businesses that lead consumers. that manufacturing report was terrific. i'm going to stay with the business cycle story. >> that's it. all right. that's it for "the call," i'll see you on the "closing bell" later today. >> and i'm larry kudlow, i'll see you tonight in "the kudlow report," 7:00 p.m. eastern.n. and now "power lunch" is is up next. >>> ford is reporting a 2.3% increase on july u.s. sales, its first year-over-year increase in almost two years.. general motors will
pullbacks and all. >> you say it's despite what's happening in washington, though. at what point does what's happening in washington start to catch up with the real economy? i mean they're talking about tax rates if health care goes through going to 57% in some states. >> i agree with all of that, trish, and it's a pleasure to hear you talk about it. but i want to focus business and free markets are more is -- durable and resilient than the detractors would have us believe and right...
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Aug 3, 2009
08/09
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come to washington. we know how much you enjoy -- and you might run into senator boxer. >> yeah, great. >> talk about her new novel. >> maybe i will. >>> let's get some insight on all of those things from our guest host, richard bernstein, former strategist of merrill. >> he's wearing a jacket today. >> we will be tomorrow. >> yeah. >> is the health care thing moving in a way that's business-friendly or too early to tell? >> to be honest, i think it's bizarre we're jumping from one extreme to the other extreme e back and forth. as an investor i found it very frustrating to find out who's going to be a winner and loser. one week, you think managed care doesn't do very well, the next week sentiment changes and they say, well, maybe it will do okay. and i think it's quite bizarre what's going on. >> now on the dem front -- for a while they were trying to align hospital and insurers as their ail lies, now there's word they're going to the districts to run ads demonizing the insurance carriers as profit-gener
come to washington. we know how much you enjoy -- and you might run into senator boxer. >> yeah, great. >> talk about her new novel. >> maybe i will. >>> let's get some insight on all of those things from our guest host, richard bernstein, former strategist of merrill. >> he's wearing a jacket today. >> we will be tomorrow. >> yeah. >> is the health care thing moving in a way that's business-friendly or too early to tell? >> to be honest,...
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Aug 5, 2009
08/09
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it's nice to get out of washington. and spend some time with people who actually sent me to washington. too often there are those in washington who focus on the ups and downs of politics. but my concern is the ups and downs in the lives of the american people. the families feeling the pain of this recession, the folks i've met across this country who have lost jobs and savings and health insurance, but haven't lost hope. the men and women who still believe in the and of thbility nation to meet the challenges of our times. these are challenges you know all too well here as you have been hit with a perfect storm of economic troubles. over the last few decades, you've worn the brunt of the steady weakening of american manufacturing in the faes of global competition, you felt the impact of the struggles of the american auto industry and the rerow kugss that have hid the midwest especially hard and you're living every day with the consequences of this recession. and the financial meltdown. and you felt it in the form of lost
it's nice to get out of washington. and spend some time with people who actually sent me to washington. too often there are those in washington who focus on the ups and downs of politics. but my concern is the ups and downs in the lives of the american people. the families feeling the pain of this recession, the folks i've met across this country who have lost jobs and savings and health insurance, but haven't lost hope. the men and women who still believe in the and of thbility nation to meet...
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Aug 4, 2009
08/09
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i think this had comes out of washington, joe. >> i don't know if it comes out of washington. i think that you know it's disinjen you us to say that the argument is success is bad. what it says is now is not the time to be taking home extraordinary bonuses. 10% of americans are still unemployed. there is still a huge foreclosure problem. now is not the time. and quite frankly, it's smart business from a risk management point of view to keep the business profile low. >> the problem is they're dam oiged if they do, dam oiged if they don't. if they don't spend any of money money, then a few months from now, we'll get stories about how they got all these big bonuses, how they got bailed out by the tarp o.a.r.p. and they didn't h the new york economy by buying amount wants. so in the end, there's no way that they can win. >> that will never be the story. >> clearly it's going to be the story especially since there's so many stories about how the one justification for bonuses for big pay is that it will help the city, that it will help stimulate sales tax rev new. >> it didn't actua
i think this had comes out of washington, joe. >> i don't know if it comes out of washington. i think that you know it's disinjen you us to say that the argument is success is bad. what it says is now is not the time to be taking home extraordinary bonuses. 10% of americans are still unemployed. there is still a huge foreclosure problem. now is not the time. and quite frankly, it's smart business from a risk management point of view to keep the business profile low. >> the problem...
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Aug 5, 2009
08/09
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our washington correspondent john harwood will explain. are we clunking along. >> we're clunking along. president obama is right to sell that health plan and has to assure americans he's right on the economy and it's turning around, especially with the bad job numbers on friday. he went to indiana, a state he won last year and announced $2 million for funding for electric cars and said his policy on stimulus, we're laying the foundation for long term growth. >> i don't want to just reduce our dependence on foreign oil and then end up being dependent on their foreign innovations. i don't want to have to import a hybrid car, i want to build a hybrid car here. i don't want to import a hybrid truck, i want to build a hybrid truck here. i don't want to have to import a windmill from some place else, i want to build a windmill in indiana. >> you can see that message went over well in indiana but the
our washington correspondent john harwood will explain. are we clunking along. >> we're clunking along. president obama is right to sell that health plan and has to assure americans he's right on the economy and it's turning around, especially with the bad job numbers on friday. he went to indiana, a state he won last year and announced $2 million for funding for electric cars and said his policy on stimulus, we're laying the foundation for long term growth. >> i don't want to just...
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Aug 25, 2009
08/09
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and so i think some focus is now going to shift to washington. what will washington do to make sure that we are turning that corner and not just stuck there for the time being. of. >> and suze, a lot of people think the economy can't move forward until home prices stabilize. but even if they stablize, you know, the damage is done. there are a lot of people that are under water with the mortgages they have right now. where do you go from there? >> we're not going to see a let up from foreclosures. that's the other side. the foreclosure problem is a problem of levels, not rate of growth and we're so far off our highs we still will see equal numbers. >> the thing about foreclosures, i think as a systemic factor, as difficult as foreclosures are, they are receding as a systemic factor. in other words, we're beginning to factor in an influx in inventory and the system is showing perhaps the signing that it can deal with an influx of inventory as we get new buyers into the system. >> i agree. >> that's a great point. it looks like from some of the othe
and so i think some focus is now going to shift to washington. what will washington do to make sure that we are turning that corner and not just stuck there for the time being. of. >> and suze, a lot of people think the economy can't move forward until home prices stabilize. but even if they stablize, you know, the damage is done. there are a lot of people that are under water with the mortgages they have right now. where do you go from there? >> we're not going to see a let up from...
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Aug 2, 2009
08/09
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the alliance could run up against anti-trust concerns in washington. a summer rally a key economic number on friday and earning season stronger than many had predicted. so is the recovery finally here? joining me now to help answer that question is moodyseconomy.com's chief economist mark zandi. great to have you back with us, thanks for joining us. >> thanks for having me. >> what did you make of the gdp number, down 1%? we're still seeing contractions. boy, that was a lot better than we saw initially. is this what you were expecting? >> it was better than i expected. the recession it turns out was more severe than we originally estimated. i think it is laying the groundwork for a better recovery. i am encouraged by these numbers, yes. >> how strong a recovery do you expect? a lot of people talk about the recession perhaps coming to an end, but the recovery is really what we need to worry about now, because they're talking about it being pretty bleak. what's your view? >> i think the recession is coming to an end. i think recovery will begin in the cu
the alliance could run up against anti-trust concerns in washington. a summer rally a key economic number on friday and earning season stronger than many had predicted. so is the recovery finally here? joining me now to help answer that question is moodyseconomy.com's chief economist mark zandi. great to have you back with us, thanks for joining us. >> thanks for having me. >> what did you make of the gdp number, down 1%? we're still seeing contractions. boy, that was a lot better...
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Aug 12, 2009
08/09
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it takes them off the washington radar screen, thank heavens. that gives us one more reason to buy citigroup. don't wait until the dennisons of citi field get into the playoffs. i think you'll end up paying 12 bucks. the time to get long citigroup is now. "mad money" will be back off the break. (announcer) take your time to find the right time with cialis for daily use... a clinically proven, low-dose tablet for erectile dysfunction you take every day so you can be ready anytime the moment is right. tell your doctor about your medical condition and all medications and ask if you're healthy enough for sexual activity. don't take cialis if you take nitrates for chest pain, as this may cause an unsafe drop in blood pressure. don't drink alcohol in excess with cialis. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long term injury seek immediate medical help for an erection lasting more than 4 hours. if you have any sudden decrease or loss in hearing or vision stop taking cialis and call your doctor right
it takes them off the washington radar screen, thank heavens. that gives us one more reason to buy citigroup. don't wait until the dennisons of citi field get into the playoffs. i think you'll end up paying 12 bucks. the time to get long citigroup is now. "mad money" will be back off the break. (announcer) take your time to find the right time with cialis for daily use... a clinically proven, low-dose tablet for erectile dysfunction you take every day so you can be ready anytime the...
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Aug 27, 2009
08/09
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cnbc's chief washington correspondent john harwood joins us with the details. hello, john. >> reporter: thanks, larry. this was a day for continued reflection on the life of senator ted kennedy whose motorcade containing his casket made its way across to the library while some constituents lined the road and clapped. but it was also a day for calculation in washington about the direction of health care reform, also a calculation in massachusetts, two moves in particular under consideration by democrats. one is for governor duvall patrick to ask the legislature to change the law so that a successor to ted kennedy can be appointed immediately to provide a potential vote in the senate on health care reform that would be possible but it's embarrassing for democrats because they changed the law to prevent a republican governor from making such a pick just a couple of years ago. the other potential change is that health care legislation in washington will be named for ted kennedy. senator robert byrd, his close friend from west virginia, made that suggestion. i talke
cnbc's chief washington correspondent john harwood joins us with the details. hello, john. >> reporter: thanks, larry. this was a day for continued reflection on the life of senator ted kennedy whose motorcade containing his casket made its way across to the library while some constituents lined the road and clapped. but it was also a day for calculation in washington about the direction of health care reform, also a calculation in massachusetts, two moves in particular under...
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Aug 17, 2009
08/09
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>> i'm diana o olick in washington, will that translate into new holes in the ground? housing starts and permits tomorrow morning at 8:30. >> and finally today, readers digest association publisher of the magazine saying that it may file for chapter 11 bankruptcy for its u.s. business to cut its debt load. >>> on wall street we begin tomorrow's trading session on the downside to the tune of 2% with the dow beginning the day at 9,135, a decline of 186. nasdaq gave up almost 3% and the s&p 500 down 24 points, 2.5%. i'll see you tomorrow on "closing bell," have a great night, everybody, "fast money's" up next. thanks for being with us. good night. >>> get announce the boost on stronger than expected earnings and a bullish outlook from the company.y. >>> steven spielberg completes the funding for the new dreamworks studios and for the first time in a month, gas prices fell last week down a penny to $2.64 a gallon. that's cnbcnews.com news now. "fast money" starts now. >>> is it about to become a cruel, cruel summer on the street? you can't afford to miss this show. welcome
>> i'm diana o olick in washington, will that translate into new holes in the ground? housing starts and permits tomorrow morning at 8:30. >> and finally today, readers digest association publisher of the magazine saying that it may file for chapter 11 bankruptcy for its u.s. business to cut its debt load. >>> on wall street we begin tomorrow's trading session on the downside to the tune of 2% with the dow beginning the day at 9,135, a decline of 186. nasdaq gave up almost...
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Aug 26, 2009
08/09
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well, i've been in congress, i've watched washington, many of us have. congress doesn't just naturally turn off the faucet of spending. those are three big things baked into these assumptions i don't think will happen. >> the u.s. can't afford to overhaul the health care system? >> i'm not saying that. what the president said if we're going to reform health care it needs to be fully offset. so far congress is not demonstrating any ability let alone to reform it but do it in an offsetting dollar for dollar way. that's what's baked into deficit projections. they are probably in the long-term probably lower than really where it's going to end up, particularly if this health care debate continues to move the way the congress is hoping that it moves? >> so when do you think bond vigilantes fares, bonds use that card. they have held it back so far. when is the straw that breaks the camel's back. >> you're starting to see it, as you referred to before, some are starting to wake up to it. some refusing to acknowledge it. warren buffett with his op-ed recently si
well, i've been in congress, i've watched washington, many of us have. congress doesn't just naturally turn off the faucet of spending. those are three big things baked into these assumptions i don't think will happen. >> the u.s. can't afford to overhaul the health care system? >> i'm not saying that. what the president said if we're going to reform health care it needs to be fully offset. so far congress is not demonstrating any ability let alone to reform it but do it in an...
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Aug 11, 2009
08/09
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it takes them off the washington radar screen, thank heavens. that gives us one more reason to buy citigroup. don't wait until the dennisons get into the playoffs. i think the time to get long on citigroup is now. back after the break. i'm racing cross country in this small sidecar, but i've still got room for the internet. with my new netbook from at&t. with its built-in 3g network, it's fast and small, so it goes places other laptops can't. i'm bill kurtis, and wherever i go, i've got plenty of room for the internet. and the nation's fastest 3g network. gun it, mick. (announcer) sign up today and get a netbook for $199.99 after mail-in rebate. with built-in access to the nation's fastest 3g network. only from at&t. >>> internet tsunami beckons. i like to say there's a bull market somewhere. i promise to find it for you. >>> up next on kudlow. dick bove pulls the plug on banks. we'll talk to him tonight. death board for obama-care. we'll debate that proposition. the deputy is singing! next.
it takes them off the washington radar screen, thank heavens. that gives us one more reason to buy citigroup. don't wait until the dennisons get into the playoffs. i think the time to get long on citigroup is now. back after the break. i'm racing cross country in this small sidecar, but i've still got room for the internet. with my new netbook from at&t. with its built-in 3g network, it's fast and small, so it goes places other laptops can't. i'm bill kurtis, and wherever i go, i've got...
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Aug 6, 2009
08/09
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members of congress, if they subscribe to health care in the washington d.c. area can choose from more than 20 private plans. in effect, in 2009, if a member of congress doesn't like their private coverage or feel their insurers are charging them too much in 2010 they can go elsewhere. we are using consumer choice, marketplace principles as the budget office has made a judgment this is the only proposal that would expand coverage i didn't in a budget neutral way. >> it's interesting you bring up congress's own health care plan, from what i read, democrats said, no, we wouldn't be aport of the health care plan we're proposing, we'll keep our own coverage. if you guys really want us to believe this thing, why don't you switch all members of the congress and senate over to the health care plan? >> i feel very strongly the rules that apply to the people of our country ought to apply to me and my family. your look for example at the key questions to holding down costs. if you're a part of a small group, you will pay huge administrative cost, you don't have much bar
members of congress, if they subscribe to health care in the washington d.c. area can choose from more than 20 private plans. in effect, in 2009, if a member of congress doesn't like their private coverage or feel their insurers are charging them too much in 2010 they can go elsewhere. we are using consumer choice, marketplace principles as the budget office has made a judgment this is the only proposal that would expand coverage i didn't in a budget neutral way. >> it's interesting you...
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Aug 24, 2009
08/09
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did you really believe -- this is washington we're talking about! what are you, mr. smith? >> who would have thought they would have actually violated a lot of the rules of subcommittee procedure to get this rushed through the house before the american public could comment properly that they would give away all these allowances to dirtier fuels to get the legislation passed quickly in horse trade votes in the middle of one of the great recessions in this country. >> incredible. >> who would have thought all that would have occurred? but it did. >> do any of these congress, senators from pennsylvania and new york understand that they're sitting on spindle top? >> well, they're starting to, and i think that's the important thing is we've spent a lot more time and effort now that we've gotten a wake-up call to make sure we are educating people, and we have a lot of sponsors in the senate, and we think this thing is going to work out to be the right answer at the end of the day. >> meantime, anadarko just continues to pump, continues to fine, right? things are just right on sch
did you really believe -- this is washington we're talking about! what are you, mr. smith? >> who would have thought they would have actually violated a lot of the rules of subcommittee procedure to get this rushed through the house before the american public could comment properly that they would give away all these allowances to dirtier fuels to get the legislation passed quickly in horse trade votes in the middle of one of the great recessions in this country. >> incredible....
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Aug 11, 2009
08/09
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washington's a strange place. you've got the president who's a cheerleader but a co--equal branch of government, the legislature. so president obama, learning from the 1993 experience, that i'm not going to write this thing in detail, i'm going to have the legislative body write it. that's okay if you have somebody planted in the legislature to be massaging this and compromising and all. and that's what the role senator daschle would have played. majority leader, knows reconciliation, he knows what that means. i don't think he would have used reconciliation for the reasons we talked about earlier in the show. he would have made a huge difference because he would have been orchestrating all of this. the obama administration doesn't have anybody there right now. >> they are reid and pelosi but they're not filling that same role. >> they don't love health care. it's not their reason to be. now, senator kennedy is the spirit of the senate. i don't care who you are. he knows the body. he is probably the most efficient,
washington's a strange place. you've got the president who's a cheerleader but a co--equal branch of government, the legislature. so president obama, learning from the 1993 experience, that i'm not going to write this thing in detail, i'm going to have the legislative body write it. that's okay if you have somebody planted in the legislature to be massaging this and compromising and all. and that's what the role senator daschle would have played. majority leader, knows reconciliation, he knows...
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Aug 12, 2009
08/09
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reading about washington these days... i gotta ask, what's in it for me? i'm not looking for a bailout, just a good paying job. that's why i like this clean energy idea. now that works for our whole family. for the kids, a better environment. for my wife, who commutes, no more gettin' jerked around on gas prices... and for me, well, it wouldn't be so bad if this breadwinner brought home a little more bread. repower america. i hope our senators are listening. >>> welcome back. halfway through trading session. in the headlines this hour, sara lee reporting a narrower loss in its second quarter, backing out one-time charges the company did beat wall street estimates. growth in north america helped to offset weak demand overseas. and lawyers for the u.s. government and ubs say they have a deal now in their case involving secret swiss bank accounts. u.s. wants names of more than 50,000 americans believed to be hiding nearly $15 billion in secret accounts. we'll learn more details of this deal next week when the swiss government signs this. >>> and deutsche bank
reading about washington these days... i gotta ask, what's in it for me? i'm not looking for a bailout, just a good paying job. that's why i like this clean energy idea. now that works for our whole family. for the kids, a better environment. for my wife, who commutes, no more gettin' jerked around on gas prices... and for me, well, it wouldn't be so bad if this breadwinner brought home a little more bread. repower america. i hope our senators are listening. >>> welcome back. halfway...
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Aug 28, 2009
08/09
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the casket will then be flown to washington for burial at washington national cemetery. >>> this horrific story. 29-year-old california woman reunited with her mother nearly two decades after being kidnapped by an 11-year-old by a registered sex ander. jaycee was held hostage in a backyard enclosure and has two children by her captor. he and his wife were questioned and later arrested after his parole officer spotted him with those two young girls on the campus of uc berkeley. >>> firefighters are battling raging wildfires in los angeles. 100-acre fire burned across the coastal city forcing at least 2,000 people to flee their homes. apparently, you guys, the weather is not at all helping in the firefighting efforts. back to you, you know what, mark, keep on dancing, pal. just keep on dancing. that was the best part of my day so far. >> yeah. >>> up next, how to profit in a low-volume market. answers in today's friday trade. >>> but first, what can we expect on "the call"? >> mandy, larry kudlow just called me to let me know he was running a little late. >> thanks for the message. okay. th
the casket will then be flown to washington for burial at washington national cemetery. >>> this horrific story. 29-year-old california woman reunited with her mother nearly two decades after being kidnapped by an 11-year-old by a registered sex ander. jaycee was held hostage in a backyard enclosure and has two children by her captor. he and his wife were questioned and later arrested after his parole officer spotted him with those two young girls on the campus of uc berkeley....
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Aug 6, 2009
08/09
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washington really is schizophrenic on this because you know the banks are going to beat up. we saw that with goldman today, goldman getting beat up from regular critics because they went out and made money. and you know, we want these banks to be strong and healthy. they're still the best in the world at taking capital and delivering it in the most efficient way to its best uses and that returns value for our economy. we need to back away from that vengeance that we had a few months ago and keep us focused on building a strong financial system. >> but paul, we often see from this white house vengeance, speculators. even the most recent speech it seems constantly president obama likes to decry, deride, be derisive about wall street. >> i have to part company with you there, michelle. i think the president's rhetoric and actions and his entire economic team have been extraordinarily responsible throughout this process since january 20th. in fact, when the president got a bit out front early on, when some of the bonuses were discussed a few months ago, i believe it was a wednes
washington really is schizophrenic on this because you know the banks are going to beat up. we saw that with goldman today, goldman getting beat up from regular critics because they went out and made money. and you know, we want these banks to be strong and healthy. they're still the best in the world at taking capital and delivering it in the most efficient way to its best uses and that returns value for our economy. we need to back away from that vengeance that we had a few months ago and...
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Aug 17, 2009
08/09
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should washington pull the plug now and save what's left? we will tell you about a building boom that shows nsumers all over the world are opening wallets and spending. the passport to revenue is straight ahead. i'm racing cross country in this small sidecar, but i've still got room for the internet. with my new netbook from at&t. with its built-in 3g network, it's fast and small, so it goes places other laptops can't. i'm bill kurtis, and wherever i go, i've got plenty of room for the internet. and the nation's fastest 3g network. gun it, mick. (announcer) sign up today and get a netbook for $199.99 after mail-in rebate. with built-in access to the nation's fastest 3g network. only from at&t. >> are four stocks bucking the trend and obviously the dow is lower so the trend would be down and thanks, wal-mart. three that are higher. wal-mart is booted off for the time being. it is consumer is something interesting. we will touch on that in a moment. the american reinvestment act is six months old. the verdict from rank and file americans is no
should washington pull the plug now and save what's left? we will tell you about a building boom that shows nsumers all over the world are opening wallets and spending. the passport to revenue is straight ahead. i'm racing cross country in this small sidecar, but i've still got room for the internet. with my new netbook from at&t. with its built-in 3g network, it's fast and small, so it goes places other laptops can't. i'm bill kurtis, and wherever i go, i've got plenty of room for the...
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Aug 13, 2009
08/09
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that is a vibe from washington. about my doll. >> that's the fdic put together right on its neck. >> i put a roll in his neck. thanks, jim. go bald is one of the things you can do. i will stick that in and it definitely doesn't get a pull there. next, two steps forward and step back. they are priced to find the bottom. not painting a pretty pictures about the home front. that's on the other side of the break. plus, obesity. a major weight on the health care system. soda is a big contributor to weight in america. should coke be taxed the same as tobacco. the other may be too. we will be back. blap # >>> here at the nymex, the oil trade is settling close to the upside well off the highs of the day. we had all the makings and strong equities and weak dollar. growth out of europe and a storm off the coast of africa and the jobless claims numbers came out and the retail sales came out and things were bleeding a little bit. the dollar held up in terms of weakness and prices stayed to the upside. i wanted to take a look an
that is a vibe from washington. about my doll. >> that's the fdic put together right on its neck. >> i put a roll in his neck. thanks, jim. go bald is one of the things you can do. i will stick that in and it definitely doesn't get a pull there. next, two steps forward and step back. they are priced to find the bottom. not painting a pretty pictures about the home front. that's on the other side of the break. plus, obesity. a major weight on the health care system. soda is a big...
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Aug 3, 2009
08/09
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>>> health care has taken a back seat in washington. what's the difference between $2 trillion and $1 billion? well, people, those clunkers. the battle for health reform continues, and the price tag and the stakes are high. our chief washington correspondent john harwood has the new details. john? >> reporter: erin, the fight is really moving back home to the states and districts of those lawmakers. we've all been wondering what that's going to be like. and we had a little foretaste over the weekend from senator arlen specter of pennsylvania, who had a town hall meeting with kathleen sibelius, the hhs secretary. if what they experience is any expectation, it's going to be hot. >> medicaid is broke. medicare is broke. social security is broke. and you want us to believe that a government that can't even run a cash for clunkers program is going to run 1/7 of our u.s. economy? no, sir. no. >> ouch. now, one of the things that's goosing along that public anger is the lobbying expenditures by affected industries. $263 million from the health
>>> health care has taken a back seat in washington. what's the difference between $2 trillion and $1 billion? well, people, those clunkers. the battle for health reform continues, and the price tag and the stakes are high. our chief washington correspondent john harwood has the new details. john? >> reporter: erin, the fight is really moving back home to the states and districts of those lawmakers. we've all been wondering what that's going to be like. and we had a little...
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Aug 24, 2009
08/09
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reading about washington these days... i gotta ask, what's in it for me? i'm not looking for a bailout, just a good paying job. that's why i like this clean energy idea. now that works for our whole family. for the kids, a better environment. for my wife, who commutes, no more gettin' jerked around on gas prices... and for me, well, it wouldn't be so bad if this breadwinner brought home a little more bread. repower america. i hope our senators are listening. tdd#: 1-800-345-2550 i want everything right where i can find it. tdd#: 1-800-345-2550 anything that makes trading easier. tdd#: 1-800-345-2550 i want to be right in the middle of the action-- tdd#: 1-800-345-2550 you know-- i have to see what's going on. tdd#: 1-800-345-2550 and when i pull the trigger... tdd#: 1-800-345-2550 ...i've got to get the best price out there. tdd#: 1-800-345-2550 (announcer) try the new schwab.com tdd#: 1-800-345-2550 for yourself. tdd#: 1-800-345-2550 call 1-888-4schwab tdd#: 1-800-345-2550 or visit schwab.com/trader today. tdd#: 1-800-345-2550 'course a trade doesn't alwa
reading about washington these days... i gotta ask, what's in it for me? i'm not looking for a bailout, just a good paying job. that's why i like this clean energy idea. now that works for our whole family. for the kids, a better environment. for my wife, who commutes, no more gettin' jerked around on gas prices... and for me, well, it wouldn't be so bad if this breadwinner brought home a little more bread. repower america. i hope our senators are listening. tdd#: 1-800-345-2550 i want...
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Aug 26, 2009
08/09
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how big is the fall-out from washington's spending spree? here is david worker former comptroller and ceo of the peterson foundation and adam boynton, formerly of douche beu bank. i have a quick question, is the united states bankrupt, out of money? >> we're not out of money because we can always print money. we're in a deep fiscal hole, monetary policy is very loose. i have lot more confidence in the fed turning the corner when the economy turns around than the congress an president. >> another currency story. the numbers that come out, total debt was raised by 2 trillion in the stroke of an eyelash, customer stroke, so much to $9 trillion. the whole history of the united states was 7 trillion in debt and increased that by adding another $9 trillion. your point, you're saying the unfunded entitlements liability are not in that number and that's where we should keep our eye? >> the fact is our problem is not the current level of deficits and debt the off balance sheet obligations, we have tens of trillions of dollars in unfunded promises, 38
how big is the fall-out from washington's spending spree? here is david worker former comptroller and ceo of the peterson foundation and adam boynton, formerly of douche beu bank. i have a quick question, is the united states bankrupt, out of money? >> we're not out of money because we can always print money. we're in a deep fiscal hole, monetary policy is very loose. i have lot more confidence in the fed turning the corner when the economy turns around than the congress an president....
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Aug 7, 2009
08/09
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cnbc's hampton pearson is in washington with the details. hampton. >> reporter: hi, melissa. the july jobs report was good news for wall street, main street, and especially here at the white house. >> today we're pointed in the right direction. we're losing jobs at less than half the rate we were when i took office. we pulled the financial system back from the brink and a rising market is restoring value to those 401(k)s that are the foundation of a secure retirement. >> reporter: employers shed just 247,000 jobs last month, the fewest in a year. the unemployment rate dropped to 9.4%, the first decline in 15 months. but long-term unemployment increased by 584,000, and 5 million americans have now been out of work for six months or longer. 6.7 million jobs have been lost since the recession began. key factors in the july turnaround, employers stopped laying off workers. those with jobs are working more hours. and wages even nudged upwards. >> we have a lot further to go. as far as i'm concerned, we will not have a true recovery as long as we're losing jobs, and we won't rest u
cnbc's hampton pearson is in washington with the details. hampton. >> reporter: hi, melissa. the july jobs report was good news for wall street, main street, and especially here at the white house. >> today we're pointed in the right direction. we're losing jobs at less than half the rate we were when i took office. we pulled the financial system back from the brink and a rising market is restoring value to those 401(k)s that are the foundation of a secure retirement. >>...
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Aug 19, 2009
08/09
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reading about washington these days... i gotta ask, what's in it for me? i'm not looking for a bailout, just a good paying job. that's why i like this clean energy idea. now that works for our whole family. for the kids, a better environment. for my wife, who commutes, no more gettin' jerked around on gas prices... and for me, well, it wouldn't be so bad if this breadwinner brought home a little more bread. repower america. i hope our senators are listening. 90s slacker hip-hop. ♪ that can strain your relationships and hurt yourody 'cause we'pride ♪ng a ride ♪ ♪ it's the credit roller coaster ♪ ♪ and as you can see it kinda bites! ♪ ♪ so sing the lyrics with me: ♪ when your debt goes up your score goes down ♪ ♪ when you pay a little off it goes the other way 'round ♪ ♪ it's just the same for everybody, every boy and girl ♪ ♪ the credit roller coaster makes you wanna hurl ♪ ♪ so throw your hands in the air, and wave 'em around ♪ ♪ like a wanna-be frat boy trying to get down ♪ ♪ then bring 'em right back to where you
reading about washington these days... i gotta ask, what's in it for me? i'm not looking for a bailout, just a good paying job. that's why i like this clean energy idea. now that works for our whole family. for the kids, a better environment. for my wife, who commutes, no more gettin' jerked around on gas prices... and for me, well, it wouldn't be so bad if this breadwinner brought home a little more bread. repower america. i hope our senators are listening. 90s slacker hip-hop. ♪ that can...
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Aug 12, 2009
08/09
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you won't hear any of that from washington or from the federal bench. will this backlash hurt business? will it ruin our great recovery? let's listen to the real squad. we have julian epstein, julia raginsky, bernard, keith boykin, amanda carpenter and representative joe cess stack and representative marsha blackburn have been kind enough to be here with us tonight and congress persons. we'll start with you alone. you were very patient to come with us congressman sestack. are you sticking with the four plane planes ordered initially? or take them all out as i argue. >> we should take out the four plane this is an add in. and the planes we will replace in a very timely way, those types of planes permitted us when 9/11 happened, for the head of norad to be able when all the planes of the united states were placed on the ground, to be able to get somewhere to meet with the president of the united states. if you want to use first class in that kind of incidence, that's whole change and we won't be able to have meetings done when they need to in emergency. >
you won't hear any of that from washington or from the federal bench. will this backlash hurt business? will it ruin our great recovery? let's listen to the real squad. we have julian epstein, julia raginsky, bernard, keith boykin, amanda carpenter and representative joe cess stack and representative marsha blackburn have been kind enough to be here with us tonight and congress persons. we'll start with you alone. you were very patient to come with us congressman sestack. are you sticking with...
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Aug 25, 2009
08/09
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more than 43 cents of every dollar washington spends in 2009 will have been borrowed. that is a ratio that would make a household family squirm. steve moore, at the end of the last seg, you all were debating whether this was good or bad for growth. i want to continue this conversation, what is in this massive budget with doubling of the debt in the next two years, what is in it for the american family? >> one question a lot of families would ask, based on those heritage family statistics, aim getting $31,000 a year worth of government? i think most households would probably say no. to robert reich's point, i would agree, if we were borrowing this money and investing in the future, lower tax rates, i wouldn't have a problem. my problem is how we're using the deficit, mostly government consumption and the other problem, maybe bob you can explain this, where is the exit strategy for these trillion deficits as far as the eye can see? they go on forever. >> let me say something. the thing we all need to keep our eyes on, the ratio between debt and gdp. >> i agree. >> therei
more than 43 cents of every dollar washington spends in 2009 will have been borrowed. that is a ratio that would make a household family squirm. steve moore, at the end of the last seg, you all were debating whether this was good or bad for growth. i want to continue this conversation, what is in this massive budget with doubling of the debt in the next two years, what is in it for the american family? >> one question a lot of families would ask, based on those heritage family statistics,...
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Aug 28, 2009
08/09
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>> certainly we could get some bad news out of washington. but i think these meetings that the congressmen have been having in their districts back in the month of august is a positive because i think these folks are going to come back to washington post-labor day with a newfound sense that they've got to work from the center, not to the left. >> i think what you're going to see is a potential for a small correction to turn into a major correction because so much money has flowed into the market just since the lows of july. market's up like 19% since july lows. and i think some of those weaker hands could pull the market down lower if they all begin to sell in sort of a bit of a panic mode. >> bob pavlik, phil orlando, always a pleasure. thanks for the insight. we'll talk more about this of course in the next hour, but the important thing is coming up next on "the closing bell" take a look here, the cftc considering major changes to how commodities are traded. but will that damage the commodity etf industry? we're going to have a very importa
>> certainly we could get some bad news out of washington. but i think these meetings that the congressmen have been having in their districts back in the month of august is a positive because i think these folks are going to come back to washington post-labor day with a newfound sense that they've got to work from the center, not to the left. >> i think what you're going to see is a potential for a small correction to turn into a major correction because so much money has flowed...
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Aug 4, 2009
08/09
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you will use fiscal stimulus as washington insist, i favor extending the cash for clunker car rebate program. start slamming me or take it out in the e-mails or wherever. in brief, the clunker for cash program has become a national pastime everyone is talking about. people are flooding into the car dealers there, even buying used cars if they can't get a new one. the consumer spirit needs this boost. this government money actually leads to car purchases, not just welfare type transfer payments. it will create more production, more jobs, better incomes and higher tax revenues, and, heck, it's a mere $2 billion and compare that to the trillions of wasted dollars washington has already thrown around the country and add up. i think this is a bargain basement deal that is actually going to do some good. so there. i know you will slam me, i'm supposed to be a free market capitalist, i am. but sometimes no good deed goes unpunished. a foolish consistency is the hobb goblin of little minds. i think the new market will be helped by improved consumer spirits and that will result from final pas
you will use fiscal stimulus as washington insist, i favor extending the cash for clunker car rebate program. start slamming me or take it out in the e-mails or wherever. in brief, the clunker for cash program has become a national pastime everyone is talking about. people are flooding into the car dealers there, even buying used cars if they can't get a new one. the consumer spirit needs this boost. this government money actually leads to car purchases, not just welfare type transfer payments....
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Aug 6, 2009
08/09
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certainly been a busy summer for lawmakers in washington. in an op-ed piece in this morning's "financial times," advocating for a single bank regulator. to join us to discuss that and a lot more, virginia senator mark warner. senator, great to have you back. early on, that would seem to be the buzz in washington. we're going to get a single regulator. that is what they were advocating. then they seemed to backtrack on some of the administration. maybe we need more than one administrator. you're coming back to this single regulator again. why? >> well, i think for the last 50 years, everyone across the industry, experts, former regulators, have said, you know, why do we have this kind of banking arbitrage? we set up a system in the 1930s that might have worked at that point but if we were doing major financial reregulation, we ought to have a single end to end depository regulator at the federal level. still allow state charting but single regulator at the federal level so you don't have the arbitrage, duplication, everybody from paul volcker
certainly been a busy summer for lawmakers in washington. in an op-ed piece in this morning's "financial times," advocating for a single bank regulator. to join us to discuss that and a lot more, virginia senator mark warner. senator, great to have you back. early on, that would seem to be the buzz in washington. we're going to get a single regulator. that is what they were advocating. then they seemed to backtrack on some of the administration. maybe we need more than one...
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Aug 26, 2009
08/09
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. >> i'm diana olick in washington. sales of homes beat streets yet again in july, and an interesting divide in what's selling and what's not. >> i'm rebecca jarvis at a brand-new whole foods in manhattan. we'll take a look at how the company is clobbering the competition, even amid controversy. >> all right. let's get to the market action. stocks are struggling in a volatile session. home builders and telecom among the winners at the moment. part of that is because of you just heard from diana. bob pisani kicks it off at the new york stock exchange, one hour away from one of these crucial auctions, bob. >> yep. and down -- up, then down again. so make up your mind, folks, the new home sales number moved the around up around 10:00 eastern time, but we have drifted lower. the big home builders up 2, 3, 4% on the day. important thing is highs for the year, and lennar, posting pre-lehman levels back in september for these stocks. take a look at the industrials, led lower primarily by tech and industrial stocks, most to the
. >> i'm diana olick in washington. sales of homes beat streets yet again in july, and an interesting divide in what's selling and what's not. >> i'm rebecca jarvis at a brand-new whole foods in manhattan. we'll take a look at how the company is clobbering the competition, even amid controversy. >> all right. let's get to the market action. stocks are struggling in a volatile session. home builders and telecom among the winners at the moment. part of that is because of you...
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Aug 19, 2009
08/09
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that's how much money washington still has to pay out. the dot is adding staff daily and clearly this is frustration not only from the dealers but also the secretary of transportation. >> dealers are not complaining about the fact that over 3 or $400,000 cars have been sold. they are going to get the money. we have the money, congress provided the money. they are going to get their money. >> and as they get the money, let's look at the top ten selling vehicles to the cash for clunkers program. eight of the top ten, foreign models, top five being the control la, civic, ford focus, toyota camry -- hyundai ee lan tra. >> we're seeing so much paperwork that has to go to washington from dealerships because they have to, you know, clearly show that the vehicle is gone, that it's not going to be recycled. that takes a lot of paperwork. they need to add people before the money can start flowing out of washington. they think by the end of the week the rebate checks will start going out. phil, thanks very much. as part of our future, automotively s
that's how much money washington still has to pay out. the dot is adding staff daily and clearly this is frustration not only from the dealers but also the secretary of transportation. >> dealers are not complaining about the fact that over 3 or $400,000 cars have been sold. they are going to get the money. we have the money, congress provided the money. they are going to get their money. >> and as they get the money, let's look at the top ten selling vehicles to the cash for...
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Aug 20, 2009
08/09
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for the longest time, the democrats in washington didn't seem to want to get their hands dirty with any fossil fuels. except for the clean coal. which is favored ahead of natural gas in the legislation coming from the house of representatives. but now that natural gas has started to gain a little political traction, i want to turn to the other forgotten fuel. nuclear power. if anyone in washington is really serious about climate change, the nukes, which emit zero carbon dioxide, have to be part of the solution. but i've been worried that the obama administration thinks that nuclear power is, well, radioactive. we've been hoping for nuclear renaissance. and while the communist chinese, the french, the cubans and bizarrely, of course, the iranians have embraced it whole-heartedly, the industry's prospects in america seem to dim when obama became president. however, i think we're starting to get some signs that nukes may have more political support than we thought. what signs? remember what happened with natural gas. the stock started moving up even as the price of the commodity kept comin
for the longest time, the democrats in washington didn't seem to want to get their hands dirty with any fossil fuels. except for the clean coal. which is favored ahead of natural gas in the legislation coming from the house of representatives. but now that natural gas has started to gain a little political traction, i want to turn to the other forgotten fuel. nuclear power. if anyone in washington is really serious about climate change, the nukes, which emit zero carbon dioxide, have to be part...
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Aug 20, 2009
08/09
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g remember, we closed washington g mutual and sold it off, g wachovia. these were monster institutions right in the middle of all of this. one other thing. what are we looking for? some magic pill that allows us to get through every problem without any hiccup in the markets? the stock market can't go down, nobody can be scared, because g that's impossible. in a process of having a major g firm hit financial difficulties, you are going to have fear, you will have worries, you will have the markets hiccup, you will have them go down. >> have either of you guys changed your mind in this discussion? >> listen, nobody knows the answer. the real question is we don't know. it's not just one piece of the banks, could be the major solvency, if that happens, you saw what happened in lehman brothers, it happened so fast in so many different directions, the risk of something like that happening again, what it could do to our financial system and therefore the economy are not acceptable. i would never take that kind of risk if i'm chairman of the fed or secretary of
g remember, we closed washington g mutual and sold it off, g wachovia. these were monster institutions right in the middle of all of this. one other thing. what are we looking for? some magic pill that allows us to get through every problem without any hiccup in the markets? the stock market can't go down, nobody can be scared, because g that's impossible. in a process of having a major g firm hit financial difficulties, you are going to have fear, you will have worries, you will have the...
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Aug 25, 2009
08/09
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reading about washington these days... i gotta ask, what's in it for me? i'm not looking for a bailout, just a good paying job. that's why i like this clean energy idea. now that works for our whole family. for the kids, a better environment. for my wife, who commutes, no more gettin' jerked around on gas prices... and for me, well, it wouldn't be so bad if this breadwinner brought home a little more bread. repower america. i hope our senators are listening. >>> got any comment or questions, drop us an e-mail. our address at squawk@cnbc.com. we'll get some headlines when we come back and more from our guest host dick armey and art cashin. >>> the cfo of staples shares his thoughts on the american consumer and his expectations for back to school. a lot more to come. finally, good news for people with type 2 diabetes or at risk for diabetes. introducing new nutrisystem d, the clinically tested program for losing weight and reducing blood sugar. hi i'm mike, and i lost 100 pounds on nutrisystem d when i was first diagnosed with diabetes, that first step was m
reading about washington these days... i gotta ask, what's in it for me? i'm not looking for a bailout, just a good paying job. that's why i like this clean energy idea. now that works for our whole family. for the kids, a better environment. for my wife, who commutes, no more gettin' jerked around on gas prices... and for me, well, it wouldn't be so bad if this breadwinner brought home a little more bread. repower america. i hope our senators are listening. >>> got any comment or...
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Aug 15, 2009
08/09
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derek in washington, derek? >> caller: booyah, jim cramer from the pacific northwest. >> one of my favorite areas. although the north and southwest is good and i like that northeast a lot. what's up? >> caller: are you coming to the university of washington anytime soon? >> you know, it's so up to some woman that i work with. i don't even want to go into it. but she does look darn nice. maybe we'll take a quick look at her. cameraman, cameraman, she's got a nice saks outfit that she got for next to nothing. anyway, that's -- there you go. anyway. let's bring it back to reality. what's up? >> caller: i want to know what's better for me, somebody who got burned a couple years ago in the market, is it better to buy a handful of well-established stocks like a google or a procter & gamble, or is it better to buy a lot of the speculative stocks? >> no, no. look, first of all, i'm the only guy out there who will ever -- the only professional i know that will ever say i'm willing to let you buy a speculative stock. as a
derek in washington, derek? >> caller: booyah, jim cramer from the pacific northwest. >> one of my favorite areas. although the north and southwest is good and i like that northeast a lot. what's up? >> caller: are you coming to the university of washington anytime soon? >> you know, it's so up to some woman that i work with. i don't even want to go into it. but she does look darn nice. maybe we'll take a quick look at her. cameraman, cameraman, she's got a nice saks...
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Aug 20, 2009
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we are at crossroads of washington and wall street right after this. congresswoman allyson schwartz and scott garrison will both be here. fidelity, traders learn from the pros. say you want to backtest an entire portfolio of stocks. market experts show you how through fidelity's extensive trading knowledge center. and fidelity gives you free research from 15 independent firms, with accuracy scores... to help you decide which analysts to trust. find out why more and more active traders are turning to fidelity for a smarter way to trade online. trade like a pro. trade with fidelity. concierge claim centers. so i can just drop off my car and you'll take care of everything? yep, even the rental. what if i'm stuck at the office? if you can't come to us, we'll come to you in one of our immediate response vehicles! what if mother won't let me drive? then you probably wouldn't have had an accident in the first place. and we're walkin'! and we're walkin'... making it all a bit easier -- now that's progressive! call or click today. introducing the all new chevy
we are at crossroads of washington and wall street right after this. congresswoman allyson schwartz and scott garrison will both be here. fidelity, traders learn from the pros. say you want to backtest an entire portfolio of stocks. market experts show you how through fidelity's extensive trading knowledge center. and fidelity gives you free research from 15 independent firms, with accuracy scores... to help you decide which analysts to trust. find out why more and more active traders are...
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Aug 4, 2009
08/09
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how are we getting around the bad economic stuff out of washington? we're getting around it with microchips. the microchip beats congress. makes us more agile -- >> but jerry, we're not saving as a nation. >> we've got 7% savings. consumer savings rate 7%. the highest savings rate -- >> no, no, no, as a country, look at the z-1, you know this, we are increasing debt at 4.1 -- >> michael, i've got to tell you, no one in my audience is going to be looking at the z-1, babe, let's go to eric. get in on this please. >> well, there are lots of arguments to be made on both sides. but really the most common misperception of what's driven economic progress in this country actually worldwide for the last 20 years has been productivity enhancements and no sector other than perhaps biotech is more emblematic than that of technology. >> this is one point, you know, joel miller, as much as the bears were and they have reasons to worry. there are too many dollars flooding the world, i know, but, you know, technology is a big change from the 1930s, from the '70s, fro
how are we getting around the bad economic stuff out of washington? we're getting around it with microchips. the microchip beats congress. makes us more agile -- >> but jerry, we're not saving as a nation. >> we've got 7% savings. consumer savings rate 7%. the highest savings rate -- >> no, no, no, as a country, look at the z-1, you know this, we are increasing debt at 4.1 -- >> michael, i've got to tell you, no one in my audience is going to be looking at the z-1, babe,...
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Aug 7, 2009
08/09
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the other thing that scares me or worries me is washington. you just never know what's going to come out of washington. i think we're in a lucky period or a nice period now where they're going to be away for a month. so i think that's another reason why maybe this market's going to continue up a bit. >> we can drift higher in the absence of congress making any health care decisions, any energy policy or any regulatory policy. till next month we can probably drift higher. >> come september it's a different ball game. >> bob's been saying that for a while. >> thank you for giving me credit on that. melissa, we're slipping a little here. >> i was noticing that. 40 minutes to go before the bell. the dow is up about 125 points. at last check we've given back about 25 minutes in the last 15 minutes or so. >> next the cnbc investor network. find out why there's still reason to be optimist ic. >>> criticized all day that we're celebrating another 247,000 people -- >> look, historically speaking when you have good economic news the dollar gets stronger
the other thing that scares me or worries me is washington. you just never know what's going to come out of washington. i think we're in a lucky period or a nice period now where they're going to be away for a month. so i think that's another reason why maybe this market's going to continue up a bit. >> we can drift higher in the absence of congress making any health care decisions, any energy policy or any regulatory policy. till next month we can probably drift higher. >> come...
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Aug 12, 2009
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is it in these market prices. >> my main concern about washington is systemic risk. a lot of things happened in the last ten years contributed to the problems of the last couple of months. i'm not really sure we're addressing them. >> name one. >> short sale up tick rule. >> you'd like to see it return. >> like to see it return. >> name a second one. >> the reg fde and the fact the analysts downgraded and become less important in today's market. >> therefore we're not getting the best analytic information. >> yes. >> you guys are absolutely wonderful. thank you for helping us out. as always, we appreciate it. >>> coming up, ubs snitches on accounting. does this mean the end of swiss bank accounts as we know them? is nothing sacred? we're going to have an exchange of views between joe degeneva and dan mitchell on this subject. first, let's check with my pal, dennis kneale and see what he's got cooking up. i heard you took a road trip today. >> yes. i went into the heartland of one of those health care hearings and investigate the obama posse's allegation, is this a
is it in these market prices. >> my main concern about washington is systemic risk. a lot of things happened in the last ten years contributed to the problems of the last couple of months. i'm not really sure we're addressing them. >> name one. >> short sale up tick rule. >> you'd like to see it return. >> like to see it return. >> name a second one. >> the reg fde and the fact the analysts downgraded and become less important in today's market....
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Aug 6, 2009
08/09
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louis fed. >> board in washington. >> thank you. good to have you back. the bottom line with the study is people's available credit has come down, right? >> that's right. >> by more than you would have expected given the cycle? >> more than normal. in some sense this is a consumer-led recession. consumers have never accounted for more portion of gdp than these days. we wanted to touch base and see how consumers doing today. the short answer is they're sort of stabilizing, doing a better job paying off their bills but we're not out of the woods by any means. i think you said it right, stuart, consumer access to credit is quite constrained. 20% of americans in the first half of this year had their credit lines decreased by credit card companies. much higher amount than usual. more credit taken away than typically did. $5,000 decrease for the average consumer. that's double the number as well. it's clear consumers have limited access to the kind of credit needed to empower them to expand the economy. >> the people, affected aren't necessarily those with risk
louis fed. >> board in washington. >> thank you. good to have you back. the bottom line with the study is people's available credit has come down, right? >> that's right. >> by more than you would have expected given the cycle? >> more than normal. in some sense this is a consumer-led recession. consumers have never accounted for more portion of gdp than these days. we wanted to touch base and see how consumers doing today. the short answer is they're sort of...
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Aug 21, 2009
08/09
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you've got to remove yourself from where you live, wall street and sort of the washington place where you are, which is everybody sort of sees what bernanke has done, understands it, but what about on main street? to what extent does main street, a, blame the fed for what happened and to what extent is bernanke associated with the feelings about the fed? that's really the rub here. the question is not what wall street wants. the question is, how the decision reflects on obama. and i don't think the politics of that are either clear to obama right now, and, b, i think there's discussion of, you know, are there alternatives we could have? the administration has it's plate full right now. i wonder if they've considered what frankel told us last night, which is, you know what, between now and january, what are you going to get, some unemployment reports, a gdp report? is that what you're going to base your decision on? an economist said, hey, are we going to make this decision based on one month's unemployment rate? i hope not. >> is there any downside to the administration not suggesting
you've got to remove yourself from where you live, wall street and sort of the washington place where you are, which is everybody sort of sees what bernanke has done, understands it, but what about on main street? to what extent does main street, a, blame the fed for what happened and to what extent is bernanke associated with the feelings about the fed? that's really the rub here. the question is not what wall street wants. the question is, how the decision reflects on obama. and i don't think...
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Aug 14, 2009
08/09
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but because of new rules and regulations from washington, he may not get it all. yes, you've heard the story, but wait until you hear this latest development. it is an outrage. i'm back in two minutes. but did you know you also get hotel price assurance? it's a one-two punch of savings -- pow! pow! lower hotel booking fees mean you get a lower total price. plus, if another orbitz customer then books the same hotel for less, we send you a check for the difference, automatically. hi, may i help you? yes, i hear progressive has lots of discounts on car insurance. can i get in on that? are you a safe driver? yes. discount! do you own a home? yes. discount! are you going to buy online? yes! discount! isn't getting discounts great? yes! there's no discount for agreeing with me. yeah, i got carried away. happens to me all the time. helping you save money -- now, that's progressive. call or click today. but i've still got room for the internet. with my new netbook from at&t. with its built-in 3g network, it's fast and small, so it goes places other laptops can't. i'm bill
but because of new rules and regulations from washington, he may not get it all. yes, you've heard the story, but wait until you hear this latest development. it is an outrage. i'm back in two minutes. but did you know you also get hotel price assurance? it's a one-two punch of savings -- pow! pow! lower hotel booking fees mean you get a lower total price. plus, if another orbitz customer then books the same hotel for less, we send you a check for the difference, automatically. hi, may i help...
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Aug 4, 2009
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we are live this morning in washington, d.c. among the stories that we've been following, toyota is cutting its annual loss forecast thanks to cost-cutting measures, also some government stimulus measures that are boosting auto demand. but the company remains cautious on just how fast the global economy will recover. plus, putting trump back into trump. donald trump has won the bidding contest to win trump casino resort, the casino he once ran. his bid was chosen by the competing bid. trump lost control of the company when it emerged from a prior bankruptcy four years ago. a bankruptcy judge still has to approve this bid but this looks like the early read. >>> some auto news, the first all new redesigned ford taurus rolls off the assembly line in chicago today. our phil lebeau joins us this morning with a preview. phil, some of these pictures for 2010 look good. >> huge improvement, carl. huge improvement. alan mulally said we're going to change the name of the ford 500 and call it the taurus because it was great brand recogniti
we are live this morning in washington, d.c. among the stories that we've been following, toyota is cutting its annual loss forecast thanks to cost-cutting measures, also some government stimulus measures that are boosting auto demand. but the company remains cautious on just how fast the global economy will recover. plus, putting trump back into trump. donald trump has won the bidding contest to win trump casino resort, the casino he once ran. his bid was chosen by the competing bid. trump...